Buy Term And Invest The Difference

[Crabcake Johnny]

I have 30 year term that takes me until I'm 65. Once that ends - house paid off, son's grown up there's not a shot in hell my wife's next husband is getting a Porche.

 

[arnguy]

Robert, just wondering what the seizure of gold has to do with the 5th Amendement? I always thought that 5th was protection against self-incrimination in criminal matters.

 

[Robert Barney]

The following is from my website: www.takeovergop.com

On the site is a page titled, "What Conservatives Believe: What Conservatives Believe

Part way down that page you will find this:

Conservatives Believe in the Right to Own Property

The fifth amendment to the Constitution says:

• nor [shall any person] be deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use, without just compensation.

Remember again what the Declaration of Independence says:

• "all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness."

In the 5th amendment the founders have added the Right to own "property" as an unalienable Right.
Conservatives believe that no man is free if he is restricted from owning and possessing property.
Capitalism is rooted in the unalienable Right of the individual to own property. Communism, by contrast, is the belief that it is the Right of government to own property. The Bill of Rights limits the property rights of government. Property does not just refer to real estate, it refers to anything that is lawful to own: your home, your car, your TV, your computer, ANY possessions that you have, including your guns and money.

 

[briko3]

That sucks then since the government owns all property. It's like the old saying goes....just don't pay property taxes and you'll see fairly quick who owns the property. It's actually sad that you HAVE to have money in order to live. No way to buy land outright and live off the land, etc.

 

[Crabcake Johnny]

Or if you think you own property, see what happens if they want to build a road or maybe new shopping mall. And think you're gonna get market retail value?

 

[Full Throttle]

I am contemplating going to a self-directed IRA and putting some money in land - just land.

I've always wondered how that works when it comes to RMD's. Anyone have any insight? I would imagine you would be forced to sell of the asset when they hit?
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I have 30 year term that takes me until I'm 65. Once that ends - house paid off, son's grown up there's not a shot in hell my wife's next husband is getting a Porche.

No arguing that point, but carrying the life insurance into retirement may allow you to get a Porche depending on what you are looking to accomplish. Do you want to die spending your last dollar or do you want to leave money behind? If you want to leave money behind, the life coverage gives you a few more plays to maximize your retirement income.

 

[Robert Barney]

Apparently you have confused some people on this board with Donald Trump.

Do I want to leave money behind, not really. What I want to do is not run out of it before I die.

 

[timothyjmon123]

buy term and invest the difference is the worst advise you can ever take. term insurance is cheap, the premium rises and one day at 65 years old, it expires/ terminates because it doesnt last you your whole life. now term insurance is also considered that insurance you have on the job too, because when you retire, guess what, you have no insurance and then you realize that your term insurance on the job is going to expire as well and you wished you listened to your licensed insurance agent who kept telling you to buy permanent because of the day you reached retirement age 65. And now you looked at how you invested the difference and realize that you invested into the market but you realize that the market was no gaurantee, you realize that you need another 30 years to build it up again, and at 80 or 100 years old you have no insurance to protect your family from debt because they have to pay the final expenses and on top of that your estate is pretty much auctioned off and you realized that you gave uncle sam most of your estate in taxes instead of your family, its too late. you see, my customers buy whole life because of the cash value, its also permanent insurance-it leaves a fistfull of dollars to the beneficary tax free when your 70, or 80 or 90 years old. Did you know that more people are living longer, we have more centurians or folks living 100 years old than ever before. So where does my customers put a portion of their cash values, they put it in an annuity, guaranteed income for life, its nothing like realizing that age 80, 90 or 100 years old that you have a permanent policy, guaranteed, then you have a an annuity which provides you a guaranteed income for life and you realized that you listened to an agent who said trust into the guarantee before you trust suzy orman. ha haha

 

[timothyjmon123]

So you realize that at age 65 everything is paid off, house cars etc. But then an untimely death strikes, your spouse has to use the cds in the bank to pay the funeral home or worse, your children have to take out their own money to pay for the funeral or more common your children are having to take out loans from a bank to pay for your funeral and your grandchildren have no college savings plan because of this but you realize that your estate will be auctioned off in an untimely death, and then the estate is taxed at one of the highest rates in history and your grandchildren ask, mommy why is granddaddys house being sold to pay estate taxes why didnt he properly plan? basically bottoming out your legacy. you see permanent insurance provides coverage from age 65 until you pass away, it pretty much should take the place of your employer based insurance, where as term terminates, whole life stays with you your whole life, its guaranteed and it builds cash value and its tax free to, so uncle sam can not touch it, so it can go to all of your grand children, so you realize that you dont just want permanent coverage or guaranteed coverage you also realize you want to enjoy retirement. so you realize, hey lets take some of the cash value from my whole life policy and lets put it into an annuity giving me a guaranteed income for life. you realize at age 80, 90, or 100 years old that you have a guaranteed permanent policy for your grandchildren and you have a guaranteed income for life celebrating your 100th birthday but wait a second you chose the buy term policy which terminated and you invested the difference into the worst market realizing it will take another 30 years of investing to build it up again.

 

[Tomfromtheshade]

Then when your term runs out you have NO COVERAGE and you are probably too old or too sick to afford new coverage. Smart move!